CoinTribe Technologies, an online lending platform for small and medium enterprises, has raised $10 million in series B round of funding, led by private equity fund Sabre Partners along with participation from existing investor Puneet Dalmia.
Gurugram-based CoinTribe, founded in 2015 by Amit Sachdev, Manish Chaudhari and Rohit Lohia, currently offers unsecured term and working capital loans to small businesses.
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With the current round of funding, the total equity capital raised by CoinTribe is $15 million.
The start-up will use the fresh capital to enhance its credit underwriting algorithm, expand to new markets, and develop its technology base. CoinTribe’s lending partners include Axis Bank, Yes Bank, RBL Bank, DBS, IIFL, Clix Capital and SMC Capital.
Amit Sachdev, chief executive of CoinTribe, said in a statement that the company’s business model strongly focuses on low capital and low-risk operation.
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